The Last Dance

As the US peso continues to devalue, the futures are up yet again. Americans are getting less and less for their pesos while David Tepper gets richer. Atta boy Bernanke. I believe the current rally will be the final rally before a correction that lasts more than a day. We are setting up for an overbought reading in both the short and intermediate term. Hopefully, we will also see sentiment become extreme as well.

I expect a decent short term top in the coming days. My lone hesitation is that expiration often serves to help elongate a trend. There is a chance that the bears will have to wait until after expiration. What is clear is that we are late in the game.

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I do not offer investment advice on this site. Under no circumstances does this information represent a recommendation to buy, sell or hold any security. The information is for educational purposes only. I may hold a position in the securities discussed. Positions may change at any time without notice.